Kerry Group maintains 2026 earnings forecast after 3.6% volume growth
Foodservice, snacks and beverages supported growth across Kerry’s regions, while its Accelerate 2.0 programme helped drive a 50-basis-point improvement in EBITDA margin.
IRELAND – Food technology and ingredients company Kerry Group has reported volume growth of 3.6% for the first nine months of 2026, maintaining its full-year constant currency adjusted earnings per share (EPS) growth guidance of 6% to 10%.
In its interim management statement, the company said third-quarter sales volumes increased by 4.1%, reflecting continued outperformance across its end markets and progress in Europe, the Americas, and Asia Pacific, the Middle East and Africa (APMEA).
Kerry also reported a 50-basis-point improvement in its earnings before interest, tax, depreciation and amortization (EBITDA) margin.
The improvement was primarily driven by its Accelerate 2.0 cost and efficiency programme, product mix and increased investment.
Bakery delivered good growth through solutions incorporating Kerry’s taste, texture and enzyme technologies, supported by customer reformulation activity.
Foodservice was a key growth contributor, with volumes increasing by 5% during the period. Kerry attributed the performance to new menu products and seasonal launches.
Across the Americas, volumes grew by 4% in the first nine months and 4.6% in the third quarter. Growth was led by snacks, meat and beverages, while Mexico delivered strong performance across snacks and drinks.
APMEA recorded the fastest regional growth, with volumes increasing by 5.2% over the first nine months and 5.7% in the third quarter.
Europe recorded more moderate growth, with volumes rising by 0.7% in the nine-month period and 1.3% in the third quarter. Drinks, snacks and dairy were the main growth categories in the region.
Kerry reported good performance in snacks, supported by integrated savoury taste solutions. Dairy growth was driven by taste and protein-masking solutions, while meals and bakery continued to face challenging category volumes.
The company also reported strong demand for dairy enzymes and taste solutions, alongside growth in meat through taste and texture systems supplied to retail and foodservice customers.
Chief executive Edmond Scanlon said third-quarter growth was driven by innovation in foodservice and continued product renovation in retail.
“From a strategic perspective, we continued to develop our business, including further investment in our taste and biotechnology-enabled solutions capacity and capabilities across our regions,” Scanlon said.
He added that the company’s performance demonstrated the strength of its market positioning despite continuing uncertainty.
“While macro and geopolitical uncertainty continue to impact market conditions, our strong end market outperformance highlights the strength and relevance of our strategic positioning across our markets, channels and customer base,” he said.
“Our inbuilt business resiliency positions us well through this period, and we remain strongly positioned for volume growth and margin expansion, underpinned by a good innovation and renovation pipeline,” Scanlon added.
Kerry said it remained focused on volume growth and margin expansion, supported by its innovation and renovation pipeline, while continuing to navigate macroeconomic and geopolitical uncertainty.
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